Leading car manufacturer Toyota Kirloskar Motor on Wednesday said that it will set up a new manufacturing plant in Maharashtra with an investment of about Rs 20,000 crore. A Memorandum of Understanding (MoU) for the manufacturing of electric and hybrid cars was signed today between the Industries Department of the State Government and Toyota Kirloskar Motor at Auric City in Chhatrapati Sambhajinagar.
Toyota Kirloskar Motor (TKM) said in a statement that the company will set up a greenfield manufacturing plant in Chhatrapati Sambhaji Nagar. Electric and hybrid cars will be manufactured here. For this, the company has planned to invest approximately Rs 20 thousand crores. Meanwhile, Maharashtra Chief Minister Eknath Shinde said that Toyota Kirloskar’s project in Chhatrapati Sambhajinagar will not only benefit Marathwada but will also revolutionize the automotive manufacturing industry in the state and across India.
Let us tell you that Toyota Kirloskar Motor is headquartered in Karnataka and the company already has two plants in Bidadi near Bengaluru. In these plants, the company produces models of its famous cars like Toyota Fortuner, Innova Crysta and Hyrider etc. In Karnataka alone, Toyota, including its associate companies, has invested more than Rs 16,000 crore and has provided direct and indirect employment to about 86,000 people.
Employment to 20 thousand people:
Deputy Chief Minister Devendra Fadnavis wrote in his post on social media, “The investment of Rs 20,000 crore by Toyota Kirloskar Motor Company in Chhatrapati Sambhaji Nagar will take Maharashtra a step forward in the automobile sector. This investment will create 8,000 direct and 12,000 indirect jobs.” Will be created. Congratulations to Marathwada for this historic agreement!”
Let us tell you that Toyota is running with the production target of 4 lakh cars per year from this project. Production of vehicles is expected to start here within the next three years. The company is also working on a plan to set up another new plant in Karnataka. It is possible that the manufacturing of vehicles can be started in the third plant there by 2026.